DineEquity: Economic woes take toll on IHOP, Applebee's

GLENDALE Calif. DineEquity Inc. downgraded its fiscal 2008 outlook for Applebee's on Thursday while blaming the casual-dining chain's third quarter same-store sales negativity and IHOP's nearly flat results on the "very challenging" economic climate.” For the three months ended Sept. 30, IHOP eked out a 0.2-percent systemwide rise in same-store sales, reflecting negative traffic and a higher average check. Applebee's U.S. same-store sales fell 3.1 percent both at company-operated and ...

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